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Finance Watch: The Growing $100m-Plus VC Club

 
• By Mandy Jackson

Private Company Edition: Venture capital mega-rounds continue to add up, including recent financings for Connect Biopharma ($115m) and Synthego ($100m). Also, Civilization Ventures closed a new $35m fund and Triumvira launched with $55m.

Finance Watch

Venture capital investment in the biopharmaceutical industry continues to be massive in terms of both the number of companies raising funds and the size of funding rounds despite the ongoing economic uncertainty associated with the COVID-19 pandemic. There have been many mega-rounds of $100m or more, including recent financings for Connect Biopharmaceuticals, Ltd. and Synthego Corp.

Immune modulation specialist Connect Biopharmaceuticals, Ltd. announced a $115m series C round 24 August, which was the same day Kronos Bio, Inc. revealed a $155m convertible note financing to fund clinical trials for its two lead cancer drug candidates. Genome engineering firm Synthego Corp. raised $100m in a series D round announced 26 August as Kinnate Biopharma Inc. also disclosed a $98m series C round to fund trials for its first two kinase inhibitors

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More from Financing

Finance Watch: Deerfield Closes $600m-Plus VC Fund; Gates Speeds Up Health Investments

 
• By Mandy Jackson

Private Company Edition: Deerfield’s third innovations fund will back therapeutics and other opportunities, the Gates Foundation – a sometimes funder of biotech firms – will spend $200bn over the next 20 years, and NewLimit raised a $130m series B round, among other financings.

HAYA Raises $65m To Take First Long Non-Coding RNA Program Into The Clinic

 
• By Mandy Jackson

HTX-001 targeting the long non-coding RNA known as Wisper is being developed for non-obstructive hypertrophic cardiomyopathy. HAYA partnered with Lilly last year in obesity.

Sanofi R&D Head’s Words Of Wisdom For Biotechs

 
• By Kevin Grogan

Houman Ashrafian tells delegates at Swiss Biotech Day that ‘literally only two things matter in our industry – target credentialing and differentiated pharmacology. The rest is execution.’

Switzerland Biopharma To Stay Strong Despite More Cash Going To US And China

 
• By Kevin Grogan

The sector is continuing to show resilience despite financial and market challenges.

More from Business

Finance Watch: Deerfield Closes $600m-Plus VC Fund; Gates Speeds Up Health Investments

 
• By Mandy Jackson

Private Company Edition: Deerfield’s third innovations fund will back therapeutics and other opportunities, the Gates Foundation – a sometimes funder of biotech firms – will spend $200bn over the next 20 years, and NewLimit raised a $130m series B round, among other financings.

Pharma Left Hanging After US/UK Trade Pact

 
• By Kevin Grogan

An ‘historic economic prosperity deal’ does not include the sector.

Viatris Will File ‘Fast-Acting’ Meloxicam For FDA Approval This Year

 
• By Joseph Haas

Seven years after acquiring it, Viatris will seek approval of a meloxicam formulation for acute pain backed by data from two Phase III studies in post-surgical pain settings.